Sonic Automotive Inc (NYSE: SAH) said on Thursday that it had acquired Audi New Orleans, located in Metairie, Louisiana.
The firm bought Audi New Orleans from the Bohn Brothers Automotive Group, which has an extensive history of automotive dealership operations in Louisiana.
“It’s an honor to continue the tradition of offering high-quality automotive sales and service experiences established in the greater New Orleans area by the Bohn family since 1924. Our team looks forward to providing a world-class guest experience to Audi New Orleans guests and furthering our commitment to delivering the Audi brand promise through this dealership,” David B. Smith, Chairman and Chief Executive Officer of Sonic Automotive, said in a press release.
“We are grateful for the loyal customers, dedicated Audi New Orleans team members, and community partners for supporting the dealership for the last 15 years, and we look forward to seeing the dealership continue to serve Audi customers in the New Orleans community for years to come,” the Bohn family commented.
Stock Performance
The shares of Sonic Automotive Inc (SAH) closed 0.58% ($0.39) higher at $67.59 in New York on Thursday, as they reversed a small loss from the previous market session.
The company’s total market cap now stands at $2.298 billion.
The shares of Sonic Automotive Inc (SAH) went up 14.08% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).
The company’s shares have risen 20.24% so far this year.
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